GK, fast41 makes a good point. Do not complicate it more than it need to be. But if you find a system that works for you than stick to it.
You say you have been investing/trading for some time. They are 2 VERY different things.
You invest in a stock like Banks, westfield etc with a view to hold for the long term. Ride the ups and downs with the LT in mind. You buy a trade to sell it for a profit!!! It is one or the other. Do NOT become attached to it or it's story. I have fallen for that trap. I bet every hot copper poster has!! That is why I now invest is stocks and trade indices. No emotion attachment.
You posted "One reason is that my thinking had been frozen when holding some extremely large and very profitable positions to see them slide away to very little. I think i am not a dill but my inaction in those situations was certainly dumb." That is an honest admission!! well done! I turned a $40000 buy into a $100000 position to sell for $25000!!!!!!!!!!! It was after such an experience that I decided to get fair dinkum and learn about trading and indicators/charts. The signs would have been there.
When to buy is often the focus, BUT WHEN TO SELL is really just as important.
I have looked into many indicators. Have a look at the charts thread. There are hundreds or them. I have a background in mathematics so I enjoyed the research. I have settled on the 2 simplest. EMA and MACD. I have adapted my take on them from the strict use but I find them a good combination on when to open and close a trade.
I think FA is more important for investing and TA more for trading with a FA influence.
If you can share a chart on your big profit gone to little I could lend my thoughts. Hind-sight trading is my forte!! I always get it right!!LOL cheers Mower
